The United States has maintained restrictions on tanker traffic to and from Venezuela, a measure that is unlikely to be lifted anytime soon, according to US Secretary of State Marco Rubio earlier this week.
Despite the ongoing blockade, Washington is reportedly seeking increased access to Venezuela’s vast crude reserves. President Donald Trump claimed on Tuesday that Venezuela would be “turning over” between 30 and 50 million barrels of oil to the United States.
Trump has insisted that Venezuela’s interim leadership, under Acting President Delcy Rodríguez, grant the US government and private American companies “total access” to the country’s oil industry. Analysts say any crude exports to the US would likely come from floating storage facilities that have accumulated since the United States initiated a naval blockade off Venezuela’s coast in mid-December.
Venezuela entered 2026 amid deep political uncertainty following the capture of President Nicolás Maduro by US forces. Maduro was transferred to the United States alongside his wife, Cilia Flores, to face federal charges.
He was subsequently arraigned before a US court, where prosecutors revived longstanding allegations, including narco-terrorism conspiracy and cocaine trafficking. Maduro has denied all charges.
In the aftermath of his detention, Venezuela’s Supreme Court announced that Vice President Delcy Rodríguez had assumed office as Acting President, citing the need to preserve institutional continuity.
The dramatic political shift has renewed international focus on Venezuela’s fragile economy and oil-dependent energy sector, particularly after Trump declared that the United States would effectively “run” the oil-rich nation.
Meanwhile, global oil markets reacted cautiously. Brent crude traded at $59.99 per barrel on Wednesday evening, while West Texas Intermediate (WTI) fell to $56.10. Market analysts project that prices could slide further if additional Venezuelan oil begins flowing into the United States.
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